The financial news that actually matters
Taxpayers who fall short on their quarterly estimated payments face an IRS-imposed addition to tax that has been running at roughly 8% per year, a rate high enough to rival some credit card interest charges. The penalty hits individuals, estates, and trusts that either pay too little or pay late during the tax year, and…
GameStop Corp. cut 727 stores from its U.S. footprint in a single fiscal year, dropping from 2,325 locations to 1,598 between February 1, 2025, and January 31, 2026. The scale of the reduction, disclosed in the company’s annual filing with the Securities and Exchange Commission, amounts to a loss of roughly one in every three…
Millions of workers with access to a 401(k) plan never contribute enough to collect the full employer match, effectively turning down additional compensation they have already earned the right to claim. A matching contribution formula provides additional employer contributions only to employees who make elective deferrals, which means a worker who defers nothing receives nothing…
Millions of workers earning modest wages can cut their federal tax bill by saving even a small amount for retirement, thanks to a provision that rewards contributions with a dollar-for-dollar credit rather than a simple deduction. The Retirement Savings Contributions Credit, commonly called the Saver’s Credit, is worth up to $1,000 for an individual filer…
A missing debit card can drain a checking account in hours, but federal law draws a sharp line: consumers who notify their bank within two business days of discovering the loss or theft face a maximum liability of $50 for unauthorized transactions. Wait longer, and that cap jumps to $500. The difference between those two…
Millions of Californians have money sitting in state vaults that they have never tried to collect. The California Legislature designated February 2026 as Unclaimed Property Month through HR 79, a resolution that explicitly encourages residents to search for forgotten assets using the State Controller’s free claim tool. The state holds roughly $15 billion in unclaimed…
A federal jury found Bradley Heppner guilty of securities fraud, wire fraud, conspiracy, and making false statements to auditors after a three-week trial, according to the U.S. Attorney’s Office for the Southern District of New York. Heppner, identified as the former chairman of GWG Holdings and founder of Beneficient, was convicted of running a scheme…
A worker who saves steadily for 30 years in a low-cost index fund can end up tens of thousands of dollars richer than a colleague who picks a nearly identical fund that charges a higher annual fee. The gap between a 0.03 percent expense ratio and a 1 percent expense ratio sounds trivial in any…
Chip stocks suffered their sharpest single-session decline in more than a year on June 5, 2026, with Marvell Technology falling 17 percent and Broadcom dropping 12.6 percent after a stronger-than-expected jobs report collided with earnings-season anxiety. The PHLX Semiconductor Index recorded its worst day since early 2025, dragging AI-exposed names lower even as the broader…
About 21,000 people lost their jobs at Oracle Corp over the twelve months ending May 31, 2026. The company disclosed the net workforce reduction in its annual Form 10-K filed with the Securities and Exchange Commission on June 22, 2026. Oracle framed the cuts as part of a broader effort to redirect resources toward cloud…